Zurich, November 8, 2022: Kongsberg Automotive ASA (“Kongsberg Automotive”) has published its results for the third quarter of 2022 today. The results show increasing revenues and a positive margin development despite increased global inflation. All the financial information in this press release refers to the continuing operations of the company, as recent divestments are accounted for separately as discontinued operations.

Comment from Joerg Buchheim, President & CEO:

“Despite several macroeconomic challenges for our industry, we managed to deliver all-time high revenues in the third quarter. The organic growth was in addition supported by customer reimbursements for spot buy cost, price increase compensating for increased inflation and for elevated raw material prices, as well as foreign exchange tailwind. On the back of this favorable top line development, we were able to deliver an improved adjusted EBIT margin for the quarter.

During the quarter, we signed the transaction of the sale of a part of our Shawinigan operation to BRP. This is our third sale in one year and shows that we are successfully executing our strategic plan of transforming our product portfolio and deleveraging the company, while at the same time enabling further accretive growth in our high-margin areas.”


Financial position


Earnings presentation – conference call

The company will hold an earnings conference call at 08:00 CEST on November 8, 2022. Conference call registration is available at the company’s webpage or the following link: channel.royalcast.com/landingpage/hegnarmedia/20221108_1/

Investor relations contact:
Mads Langaard
+47 905 81 264